Japan’s foreign trade deficit lower than expected

SHAFAQNA Turkey’s and Japan’s trade deficit narrowed less than expected in November despite stable commodity prices, and the depreciation of the yen continued to put pressure on imports.

Japan’s imports increased 30.3 percent year-over-year, while exports increased 20 percent, largely in line with expectations. Economists had expected imports to rise 27 percent in November.

Crude oil and coal shipments led the way in inward shipments, while exports were boosted by cars, construction and mining equipment.

Japan’s trade deficit has reached 18.5 trillion yen since the beginning of the year. In 2014, the record trade deficit was beaten by 12.8 trillion yen.

In November, exports to China increased by just 3.5 percent, while exports to the US increased by 32.5 percent and to the EU by 32 percent. Excluding China, exports to Asia rose by 11.6 percent.

Bloomberg

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